Australia's top growth suburbs of 2024

The Sydney property market had a softer year than some other parts of the country as high interest rates and affordability concerns put downward pressure on prices in our most expensive capital city. 

That didn't mean there weren't plenty of suburbs that excelled in 2024, though, with well over a dozen achieving double-digit growth in just 12 months. 

Sydney's top growth suburbs of 2024

Suburbs in the South West dominated the top 10 list, with Bonnyrigg seeing gains of +19 per cent. 

The list speaks to the hunt for affordability, with typically lower-priced areas seeing some of the most substantial growth in 2024. 

Regional NSW had a stronger year in general, again driven by more affordable locations that amped up buyer interest. 

Regional NSW's top growth suburbs of 2024

The top six spots were all taken out by suburbs in the Richmond - Tweed region, with Coraki taking out the number one spot with annual growth of +26.1 per cent.

The Melbourne property market struggled in 2024 compared to the rest of the country, recording an overall loss for the year. 

But the downturn wasn't felt everywhere, with a number of suburbs making comfortable gains. 

Melbourne's top growth suburbs of 2024

The top 10 list was dominated by unit markets, with some in the city's inner ring performing particularly well. 

Parkville units broke through a +10 per cent uptick for the year, while Balaclava saw the highest growth for houses at +5.2 per cent. 

Looking regionally, there were a handful of suburbs across the state that delivered very strong growth and bucked the trend. 

Regional VIC's top growth suburbs of 2024

The Shepparton region in the state's north took the lion's share of gains, with houses in Rochester and Tatura both hitting double-digit growth in 2024.

As one of the three star capital cities of 2024 when it comes to price growth, it's not surprising that Brisbane's list of top movers is an impressive one. 

In fact, a number of the entire country's top growth suburbs could be found in the Sunshine State. 

Brisbane's top growth suburbs of 2024

What may come as a surprise, though, is that the list was locked out by unit markets as Queensland buyers seemed to embrace higher-density living. 

The biggest growth was seen in Brisbane's satellite cities of Logan and Ipswich, with units in Loganlea taking first place with incredible gains of +43.4 per cent over 2024. 

Regional Queensland took one step further, delivering growth of a pretty unbelievable level. 

Regional QLD's top growth suburbs of 2024

Units again were the highest achievers on this year's list, with the state's north showing huge progress. Dolphin Heads, just north of Mackay, saw extraordinary growth of +52.8 per cent in just 12 months.

Adelaide was another overachiever in 2024, continuing a years-long run of positivity that launched after the onset of the pandemic. 

As prices have risen dramatically in the South Australian capital over recent years, the push for affordability once again saw buyers zeroing in on units. 

Adelaide's top growth suburbs of 2024

The highest movers were split between the city's north and south. Units in Salisbury East took the prize for 2024, with prices surging by more than +40 per cent. 

Regional South Australia, while not quite as drastic as the capital, still performed very well in plenty of locations.

Regional SA's top growth suburbs of 2024

The broader Barossa/Yorke/Mid North region was the biggest hit of the year. Houses in Ardossan and Maitland both breached the +20 per cent mark for annual gains, with more locations not far behind.

The star of Australian property in 2024 was undoubtedly Perth, where prices rose almost +20 per cent over the year. 

In many cases, that number was far higher, particularly in more affordable pockets that saw buyers flocking to get in on the action. 

Perth's top growth suburbs of 2024

Perth's top 10 for the year was spread across the city but was dominated by units. The price of a flat in Armadale shot up by +45.6 per cent in 12 months, making it the standout suburb in a city full of overperformers. 

WA's regional markets also had a very strong year, with at least a dozen suburbs breaking +30 per cent growth in 2024. 

Regional WA's top growth suburbs of 2024

Top billing went to Beachlands in Geraldton with gains of +38.4 per cent, though Beverley, South Bunbury and Wonthella were all very close behind.

Hobart saw historic levels of growth during the 2021 boom as Tasmania became one of the nation's most appealing property hotspots. 

While 2024 was a much flatter year for the island state, a few suburbs still got a significant boost over the 12 month period. 

Hobart's top growth suburbs of 2024

There were three standout spots in Hobart for growth last year: Moonah, Bellerive, and Primrose Sands, all clocking up gains well in excess of the city's median growth. 

Regional Tasmania performed even better than the capital, though, with a bunch of double-digit growth suburbs. 

Regional TAS's top growth suburbs of 2024

Houses in Parklands to the state's northwest saw the biggest spike, gaining +16.3 per cent over the year.

Darwin also had a relatively slow year in 2024. Some months were up, others were down, but on the whole the city's median property price hovered around in the flat-to-slightly-positive area.

That wasn't the case for every suburb, though, with the top 10 for 2024 including some particularly strong performances. 

NT's top growth suburbs of 2024

Houses in Woodroffe, an inner-city suburb of Palmerston, came out on top with very sold gains of +9 per cent over the 12 month period, with Johnston, Gray and Moulden not far behind.

Like the other smaller capitals, Canberra's property market was relatively soft in 2024, ending the year with a very slight decrease in prices overall. 

A good number of suburbs went against the grain, though, delivering strong results. 

ACT's top growth suburbs of 2024

Houses in Whitlam soared +12.6 per cent annually, Gowrie homes got an +8.1 per cent boost, and both Campbell and Giralang got a very tidy +6.5 per cent uptick in prices.